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i'm not sure about the alternating arrows, or clicking on it to make the hidden menu to appear, but you can create a menu where another sub menu will appear if you hover over one of the original options, as demonstrated here...http://contest.prestontalk.com/index/End_Of_The_Road/
however, you can only view it working in Opera or Mozilla

The type of menu mentioned in the first post seems more like a DHTML menu. (although I could be wrong, it's been known to happen ) They have thier downsides, mainly the javacript. DynamicDrive.com is a pretty good place to pick up some scripts. They can be instructive if you are the type who learns by messing with things to see how they tick. Good Luck.

Alone we can do so little; together we can do so much.-----------------------------------------------------tinyplanet.org <--a nifty spot.